Industry must help state with investments: Karnataka CM BS Yediyurappa

BENGALURU: Chief Minister B S Yediyurappa on Wednesday sought the cooperation of the industry to make Karnataka the top investment destination in the country. The State Government has initiated a number of measures to improve ease of doing business in the state, and industries should help in effective implementation of these measures, he added. 

Addressing members of the Federation of Karnataka Chamber of Commerce and Industries (FKCCI), the Chief Minister said that acquiring land to set up industries has become easier after the recent amendments to the Karnataka Land Reforms Act and Karnataka Industrial Facilitation Act has been amended to further improve ease of doing business as industries get three years to get various approvals, he said, and added that the government is also working on making changes in the Labour Act. 

Economic activities and supply chain that were hit by the Covid19 pandemic are returning to normal and big industries as well as small and medium scale industries resuming operations under such circumstances is an encouraging development, he said. Even during these times of distress, Karnataka has attracted 42 per cent of all foreign direct investment (FDI) that has come into the country. Industries should cooperate with the government to ensure that Karnataka will emerge as the number one investment destination in the country, he added. 

The CM said central and state governments have announced a number of measures to mitigate the impact of Covid on various sectors and also to revive the economy. Yediyurappa appreciated the FKCCI for its contribution to state’s development.